About Kotak Mahindra Bank

Kotak Mahindra is one of India’s leading banking and financial services group, offering a wide range of financial services that encompass every sphere of life. The bank is a part of Kotak Mahindra Finance Ltd. Group. The banking unit of the bank was established in the year 2003 and was named as Kotak Mahindra Bank. It was founded by Uday Kotak who received the Banker of the Year 2013-14 award at FE Best Banks Awards for his excellent management skills. The bank aims at delivering quality services. And therefore, has introduced a pack of services to benefit the customers. It offers multiple range of products to meet the diverse requirement like investment, loan and deposits. These services are provided to the customers through the chain of outlets and branches. The bank at present has a network of 1,336 branches and 2,044 ATMs spread throughout the country. It has even made the banking products available online so that the banking services doesn’t stay limited to brick and mortar branches. Now, the customer can access bank from anywhere and anytime. Also, Kotak Mahindra Bank fulfills it’s duty towards the nation by contributing to the development of the nation. It is fair in dealings and follows an ethical code of conduct.

Address of Kotak Mahindra Bank Branches in Chandigarh

The complete address, IFSC Code, MICR Code and customer care details of Kotak Mahindra Bank located in Chandigarh are mentioned in the table below:

Products Offered by Kotak Mahindra Bank in Chandigarh

In Chandigarh, Kotak Mahindra bank provides a plethora of banking products and services according to the requirement of the customers. It provides all kinds of banking products that are required by the client to solve the financial problem. The wide range of products offered by the bank includes loans, insurances, investments and deposits. Under the category of loan, the bank provides multiple products and they are home loan, personal loan, car loan, loan against property, business loan and etc. It even takes care of investment needs of the individual and accepts the deposits. The customer can choose any of the product as per the need. The details of all the products proffered by the bank are given in the table below:

Kotak Mahindra Bank Products Details

Product Name

Eligibility Criteria

Amount

Interest Rate

Processing Fee

Tenure

Home Loan

Individuals, either solely or jointly can apply for the home loan if they fall in the age bracket and earn a considerable income as per bank norm

Up to 90% of the property

8.35% - 8.50%

Nil

Up to 20 years

Personal Loan

All Indian residents who are employees of either MNCs, Public and Private limited companies with: - Minimum age 21 years and maximum 58 years - Minimum net salary of ₹ 25,000 - Graduation as minimum Education qualification- Minimum 1 year of stay in the current city- Having total work experience of 2 years

Criteria for Salaried:Minimum age of the applicant should be 21 yearsMaximum age of the applicant at loan maturity should be 58 yearsThe applicant must earn minimum income of ₹ 15,000 per monthMust have minimum employment of 12 months

Criteria for Self- Employed;Minimum age of the applicant should be 21 yearsMaximum age of the applicant at loan maturity should be 65 yearsMinimum employment in the current line of business should be at least 1 year

Minimum - ₹ 75,000 Maximum - Up to 90% of the car value

As per company’s norms

As per company’s norms

Maximum - 7 years

Loan Against Property

- All individuals either solely or jointly can apply for loan against property - Minimum annual income should be Rs. 1.44 lakh as per the P&L.- Minimum 21 years of age.- Maximum 65 years of age at the time of loan maturity.- Firm/company should have been in operation for the last 3 years.- Firm/company should be making cash profits for the last two years.

₹10 lakhs to ₹3 crores

10% p.a.

up to 1% of the loan amount

Maximum Up to 12 years

Business Loan

The borrower should be in the line of business for 3 years and the business should be profitable for last 2 years.

The eligible segments are: - Self employed businessmen with an annual turnover of ₹ 2 crores- Manufacturers with an annual turnover of ₹ 1 crore- Service Providers with an annual turnover of ₹ 50 lacs

₹ 3 lacs to ₹ 75 lacs

16% p.a. - 19.99% p.a.

Up to 2% of the loan amount

15 years

Gold Loan

- The applicant should be a resident Individual or Proprietor-The age of the applicant should be 18 years and above

Minimum - ₹ 25,000Maximum - ₹ 25 lacs

10.5% p.a. to 17% p.a.

2% of the loan amount

Up to 3 years

Education Loan

- The student should be an Indian National- The student shall have secured the admission in India or abroad through an entrance test or through merit based selection process- The minimum age of the joint applicant should be 21 years but not more than 70 years

For studies in India - maximum ₹10 lacs

Studies abroad - maximum ₹ 20 lacs

11.5% p.a. - 24% p.a.

Up to 2% of the loan amount + service tax

Fixed Deposit

An individual either solely or jointly A minor jointly with a majorHUFPrivate TradersProfessionals Partnerships FirmsCompaniesClubsSocieties & Corporates

-

3.50% - 7.30%

-

7 days to 10 year

Documents Required

The list of documents required to avail the benefit of the financial products are given below:

Product Name

Documents

Home Loan

Proof of identity (photocopies of Voters ID card/ Passport/ Drivinglicence/ IT PAN card)Proof of residence (photocopies of recent Telephone Bills/ Electricity Bill/Property tax receipt/ Passport/ Voters ID card)Proof of Income - Original Salary Certificate from employer, TDS certificate on Form 16 or copy of IT Returns for last two financial years, duly acknowledged by IT Deptt., Acknowledged copies of three years I.T. returns/ Assessment Orders, Photocopies of challans evidencing payment of Advance Income TaxProof of business address for non-salaried individualsStatement of Bank Account/ Pass Book for last six monthsSignature identification from present bankersPersonal Assets and Liabilities statement

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